GreyCo collected $17,200 of customer deposits on cans and bottles. As of the end of the...
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GreyCo collected $17,200 of customer deposits on cans and bottles. As of the end of the accounting period, GreyCo has redeemed 60% of the deposits, and concludes that 16% of the deposits have been forfeited. GreyCo should recognize revenue of $_____________: |
Homework Answers
Total amount of customer deposit =$17200
Forfeited deposit is 16% of customer deposit = $2,752
Revenue to be recognized = $2,752
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GreyCo collected $17,200 of customer deposits on cans and
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